The Ministry of Trade in Federation of Bosnia and Herzegovina says the price of oil and its products will increase in the near future in the Balkans countries.
This, despite the fact global oil prices have relatively decreased over the past few weeks. Prices of oil and oil products Bosnia and Herzegovina have been constantly growing in the past few months.
The Ministry of Trade has announced that oil price have gone up for several times in 2013 alone and some gas stations have already increased the prices of oil and oil products in the federation.
Many critics say economic enigma in Bosnia and Herzegovina is to blame for the hike in oil price. They say, economic situation has not made a significant progress in recent years, putting a great burden on domestic consumers. .
Despite the drop in oil prices, many in Bosnia are still paying more for their gasoline and many other items. This clearly means the country doesn't seem ready yet to introduce transitional liberal market reforms to its formerly mixed economy.